‘We want the next company that’s born here to mature here:’ PIDC Senior Vice President Sam Rhoads on city’s StartupPHL Fund

“During Tuesday’s information session on the city’s StartupPHL matching seed stage investment initiative, Sam Rhoads made one thing very clear: the city does not want the tech startups that get funded by the proposed $6 million city-backed fund to move to the suburbs — or anywhere, for that matter — once they receive investment

“We want the next company that’s born here to mature here,” said Rhoads, the Philadelphia Industrial Development Corporation‘s (PIDC) Senior Vice President of Finance. (On the other hand, the venture capital firm that handles the fund does not have to be within city limits.)…”